Kelly Services (NASDAQ:KELYA) Sets New 1-Year Low – Here’s What Happened

Kelly Services, Inc. (NASDAQ:KELYA) reached a new 52-week low during trading on Thursday . The stock traded as low as $15.47 and last traded at $15.47, with a volume of 23522 shares. The stock had previously closed at $15.68.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KELYA shares. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $29.00 price target on shares of Kelly Services in a research report on Friday, September 27th.

Kelly Services Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $544.93 million, a price-to-earnings ratio of 13.63, a PEG ratio of 0.59 and a beta of 1.20. The stock’s 50 day moving average price is $20.17 and its two-hundred day moving average price is $21.17.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. Kelly Services’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts forecast that Kelly Services, Inc. will post 2.07 EPS for the current year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.96%. Kelly Services’s dividend payout ratio is currently 26.09%.

Institutional Investors Weigh In On Kelly Services

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Kelly Services by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock valued at $57,972,000 after buying an additional 21,230 shares during the period. Pacer Advisors Inc. raised its stake in shares of Kelly Services by 45.7% during the third quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock valued at $25,944,000 after purchasing an additional 380,035 shares during the period. Boston Partners purchased a new stake in shares of Kelly Services during the first quarter valued at approximately $18,618,000. American Century Companies Inc. raised its stake in shares of Kelly Services by 35.9% during the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock valued at $14,620,000 after purchasing an additional 180,238 shares during the period. Finally, LSV Asset Management raised its stake in shares of Kelly Services by 5.2% during the second quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after purchasing an additional 30,300 shares during the period. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.